This is an article brief about the SBI Current Account with a minimum balance of 2022.
The State Bank of India offers many benefits for those who have a current account with them. For those who have a minimum balance of Rs 5,000 in their account, they can enjoy these benefits
- 100% cashback on fuel card transactions at IOC outlets and pay-at-the-pump gas stations
- Up to Rs 10,000 annual cash rewards on purchase of sbi home loan,
- Up to Rs 50,000 protection cover against loss of life or bodily injury through accidental insurance policy offered by New India Assurance Company Ltd.
The SBI also features free multi-city access via ATM network along with the convenience of 24×7 service at their branches which is helpful to many.
SBI is one of the most popular banks in India and perhaps even the world. It is very easy to open an account with them and the minimum balance required for a current account is 2022.
What is the SBI Current Account Minimum Balance 2022?
There is no set minimum balance and it is the customer’s option to decide what he or she feels like. Every SBI branch has a hierarchy of chairs with tiers, and there are many banks of different sizes in the country.
But a minimum balance of Rs 5,000 must be maintained.
Benefits of having a current account with the State Bank of India
Standard benefits:
- You earn interest on your money. It will grow your savings and make your hard-earned money work for you.
- Counter transactions are easy to do at any State Bank of India branch-both in the country and abroad, which is very convenient.
- Transactions made online will be processed faster than those that are done offline.
- Saving account holders can write cheques too for their daily needs.
- It is easy to deposit and withdraw funds. Now, the mobile app of SBI Yono has been launched as an additional facility.
- Cashless transactions can be made using debit cards and ATM cards, which is very helpful for those who want to cut down on their cash intake.
- Check images of all your transactions will be available with you at any time you need them. This means that there are no pending bills or outstanding balances that get lost in the shuffle.
- SBI Current account holders are eligible for an overdraft up to Rs 5,000. But make sure you don’t exceed this limit as charges will be levied.
- If your savings or current account does not have any cheques left, you can ask for a demand draft of Rs 10,001 to Rs 40,000.
Emotional benefits:
- Your money is safe with them, they are the largest bank in India. It’s protecting your hard-earned money from the claws of thieves.
- Just one-click app transactions, no need to go to the bank every time you need to do so.
- Withdrawal of cash by using ATMs is possible 24 hours a day, which is very useful for people who work late nights and get paid at 2 am or 3 am.
Who can open an SBI savings account?
Those who are 18 years old and above can open the State Bank of India savings account.
A Current Account can be opened by those who have a KYC or Know Your Customer document.
For those who do not have a KYC, they will need to walk into a branch with their passport copies as well as photographs for ID proof- if their application is successful, they will be given a cheque book and passbook.
What are the SBI Branch Locator Phone Numbers?
SBI Toll-free Number: 1800 425 3800 (24×7)
Pros and cons of this State Bank of India Savings account
The State Bank of India has over 16000 bank branches, which makes it the largest bank in the country. It is present all over India and even abroad too.
You will find its branches everywhere you go, be it small towns or big cities. They are very popular among customers for many years now due to their services provided.
However, no bank is 100% free of cons. Some people complain that it takes time to complete all the formalities when opening an account with them due to their long list of rules and regulations.
Some customers also complain that they are not able to withdraw money in certain cities because there are no SBI branches in those areas.
